Prosecutors had asked that Bennett be sentenced to between 16.5 and 22 years in prison.

The judge told Bennett to remain at his New Jersey home until he reports to prison on Sept. 4. She rejected a request by prosecutors that he be sent to prison immediately.

Refco went public in August 2005. It filed for bankruptcy just weeks later — after disclosing that a $430 million debt owed to Refco by a firm controlled by Bennett had been concealed. The disclosure caused Refco's stock value to plummet.

Before he was sentenced, Bennett said he had the best of intentions when he made an "unacceptable and appalling error" in handling Refco's finances.

"In doing so, I not only broke the law, I put in harm's way the very people I intended to help," he said.

Buchwald said restitution will be worked out at a later date.

The judge said she did not consider the fact he will be deported to England after serving his sentence because it is "a highly civilized, cultured and familiar country."

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